Revenues are seen up 25% to RON28.3 million in 2013, after they dropped almost four times last year, to RON22.7 million. The decrease was due to the fact that the insolvent company could not participate in contract awarding auctions.
Its losses increased 2.5% in 2012 to RON53.2 million, from about RON52 million in 2011.
Concefa shareholders approved Friday the company’s 2013 budget of revenue and expenditure.
The company’s general manager, Horatiu Cercel, transferred his stock in the company to his parents in 2011. Vasile and Maria Cercel own 31.16% in Concefa, and a third individual shareholder, Adina Maria Blajiu, owns 31.5% of the capital, according to the most recent available data.
Concefa shares were last traded on March 14, 2012, before the start of insolvency proceedings. (EUR1=RON4.3366)